Japanese automotive parts supplier Denso Corp. and Japanese research and development firm Asai Nursery Inc. have teamed up to form a joint venture company that will develop a new horticulture model using large-scale greenhouses and agricultural technology.
According to an Aug. 30 announcement, the new company called AgriD Inc. will build an agricultural greenhouse in the Japanese city of Inabe in 2019, where it will develop technologies to improve cultivation productivity for growing vegetables.
The greenhouse will use technologies from both Asai Nursery and Denso, including national distribution channels, air conditioning systems, engine control and robot technologies, according to the release.
News site Hortidaily reported that Asai Nursery will own 51% of the JV and that Asai Nursery President Yuichiro Asai will be president of the new company. The report added that AgriD will have ¥50 million in capital.
The announcement came shortly after the launch of Denso's two other JVs: one with Aisin Seiki Co. Ltd. and another with Aisin Seiki, Advics Co. Ltd. and JTEKT Corp.
As of Aug. 29, US$1 was equivalent to ¥111.75.